Singapore’s Straits Times’ Washington US Correspondent Melissa Sim covers Bitcoins and Overstock
There’s a paywall, if you’re in Singapore you can get the papers I guess.
Seems that its all there on jakarta post however (syndicated?)
When Pua Pyland, 33, heard that Overstock.com – one of the largest online retailers in the United States – was accepting bitcoins (BTC) as a form of payment, she immediately logged onto the site and bought a weighing scale for 0.03945139 BTC, which at that time translated to US$31.79 in ordinary US dollars.
either no transaction fees, or they are very low compared with those of traditional credit companies such as Visa and MasterCard.
Consumers mostly buy bitcoins because they want to trade or invest in them, and some then use their stash to buy items because they say it averts problems like credit card fraud and prevents personal information from being stolen. A hacker can steal bitcoins but, since personal information is not linked to the bitcoins, there is no identity theft
To be sure, bitcoins beg respectability in some parts of the world.
Finland, for instance, designated it as a commodity this week after the central bank said it did not meet the definition of currency or an electronic payment form.
But as the community watches and waits for regulations to be announced, enthusiasts will continue to support bitcoin.
Oh that’s quite an upgrade, commodity is better than fiat currency I guess.
WHEN Mrs Pua Pyland, 33, heard that Overstock.com – one of the largest online retailers in the United States – was accepting bitcoins (BTC) as a form of payment, she immediately logged onto the site and bought a weighing scale for 0.03945139 BTC, which at that time translated to US$31.79 (S$41) in ordinary US dollars.
“I was going to run down to Target that day to purchase one, until I saw the announcement about Overstock,” says Mrs Pyland, a blogger and bitcoin trader. “I immediately purchased it from them online to show my support of the business of accepting bitcoins.”
That day – Jan 9 – Overstock. com received 840 orders amounting to US$130,000 in sales, all paid through bitcoins.
“People want to use bitcoins, they have bitcoins, they think it’s cool… there’s a huge demand, and you can either choose to service that demand or step out of the game,” says Bitcoin Foundation’s director of public affairs Junyoung Lee Englund.